Stamp duty land tax (SDLT) is potentially chargeable whenever a transaction involving land takes place, however effected, unless there is a relief or exemption. ... Continue Reading
Income tax relief is available on a loan taken out to release capital in a rented property that is subsequently used to purchase another property or even to reduce ... Continue Reading
The operation of a furnished holiday let (FHL) is deemed to be a business and not a property income investment. As such the usual business income and expenditure ... Continue Reading
As long as the initial election for Principal Private Residence (PPR) relief has been made, it can then be varied (‘flipped’) as many times as desired ... Continue Reading
After the decision has been made to sell a rental property, expenses incurred cannot be deducted from the rental income received after that date. Although there ... Continue Reading
The capital gains tax rules on gifts between spouses as being at ‘no gain/no loss’ apply until the end of the tax year of separation. Ideally therefore, ... Continue Reading
Taxpayers seeking to obtain in excess of £50,000 of otherwise unlimited income tax reliefs in any one year are restricted in their claim to the higher of: 25% ... Continue Reading
Anyone buying property to let out on a long-term basis will most likely be deemed an investor, whereas someone buying to refurbish then sell, whether resulting in ... Continue Reading
Where a taxpayer owns a property as his or her main residence but is obliged to live elsewhere in job-related accommodation, the property could be deemed not eligible ... Continue Reading
There is a limited concession to extend Principal Private Residence (PPR) relief should the owner not move into his or her only or main residence on purchase. This ... Continue Reading
